The House of Representatives is expected to vote on the GOP tax overhaul on Tuesday night.
The Senate is also expected to approve the bill.
| AP Photo The House will likely vote on a Republican tax bill that would slash corporate tax rates and eliminate the estate tax.
But it is unclear how the House would vote on how the bill would affect the nation’s finances.
The House is expected at 8:30 p.m.
ET to vote to approve or disapprove the legislation.
It’s not known how much it would cost the Treasury.
A top Republican, Rep. Paul Ryan (R-Wis.), said that if the bill is passed the plan will help spur economic growth and spur job creation.
But the legislation is also seen as providing tax breaks for wealthy individuals, while also benefiting the middle class.
The GOP bill includes tax breaks that benefit the rich and the middle.
In the House, members who voted to pass the bill in 2017 include Rep. Joe Barton (R) of Texas, Rep., Rep. Rodney Davis (R), Rep. Mike Doyle (R).
and Rep. Ron DeSantis (R, Fla.).
A senior House Republican aide said that most of the votes would likely come from the conservative wing of the party.
That includes Rep. Tim Huelskamp (R., Kansas), Rep., and Rep., Reps.
Kevin Brady (R.), Dan Donovan (R.) and Jim Jordan (R.).
The bill also includes a measure that would give tax cuts to corporations that use tax loopholes.
Republicans are also expected in the House to pass another measure that will provide a relief for small businesses.
The bill would also eliminate the deduction for state and local taxes.
The nonpartisan Tax Policy Center estimated that the GOP plan would give a net tax benefit to the top 0.1 percent of earners in the U.S. between $1.7 trillion and $3.3 trillion.
The Tax Policy center also estimated that a $1,000 increase in tax rates would raise $1 trillion in revenue, which would be used to pay for tax cuts for everyone else.
House Republicans have already said they’re planning to vote against the bill once it reaches the Senate.
The White House on Tuesday evening released a statement saying the White House and the Trump administration are still committed to passing a bipartisan tax plan.
It said the White Houses goal is to work with Republicans to craft a package that achieves the goal of ending the federal deficit.